The Daily Cash Count of Cash Register Receipts Made by Department

question 59

Multiple Choice

The daily cash count of cash register receipts made by department supervisors is an example of

• A) documentation procedures.
• B) internal independent check of performance.
• C) establishment of responsibility.
• D) segregation of duties.

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Definitions:

Wrongful Rejection

The unjustified refusal of a buyer to accept goods or services as stipulated in a contract.

Good Faith

The genuine intention to act without taking an unfair advantage over another party in a transaction.

Honest In Fact

A standard requiring parties in certain transactions to act with genuine intent without deceit or fraud.

Commercial Standards

Agreed-upon practices or criteria within a business sector regarding the quality and conduct of commercial activities.